Brentwood Real Estate Market Report

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Brentwood Real Estate

Property Sales

May property sales were 17, down from 28 in May of 2016 and -10.5% lower than the 19 sales last month. May 2017 sales were at their lowest level compared to May of 2016 and 2015. May YTD sales of 78 are running -15.2% behind last year’s year-to-date sales of 92.

Prices

The median sales price in May was $2,865,000, down -23.1% from $3,726,000 in May of 2016 and down -18.1% from $3,500,000 last month. The average sales price in May was $3,532,808, down -18.6% from $4,342,152 in May of 2016 and down -9.7% from $3,912,853 last month. May 2017 ASP was at a mid range compared to May of 2016 and 2015.

Inventory & MSI

The total inventory of properties available for sale as of May was 111, up 15.6% from 96 last month and up 0.9% from 110 in May of last year. May 2017 Inventory was at highest level compared to May of 2016 and 2015.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2017 MSI of 6.5 months was at its highest level compared with May of 2016 and 2015.

Market Time

The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for May was 55, up from 29 days last month and down from 57 days in May of last year. The May 2017 DOM was at a mid range compared with May of 2016 and 2015.

Selling Price Per Square Foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The May 2017 selling price per square foot of $1,054 was down -4.4% from $1,103 last month and up 13.3% from $930 in May of last year.

Selling Price vs Listing Price

The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The May 2017 selling price vs list price of 95.3% was down from 98.6% last month and down from 96.5% in May of last year.

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in May 2017 was 49, up 19.5% from 41 last month and up 19.5% from 41 in May of last year.

 

 

© 2017 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. BRE # 00616212

Based on information from California Real Estate Technology Services, Inc. for the period 1/1/2005 through 5/31/2017. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.